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Red Rock Resources PLC

Cash begins to flow as Red Rock Resources receives US$659,000 dividend from Jupiter Mines

The chunky interim dividend is likely to be followed up by a further payment at the year-end

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Manganese prices have been strengthening in recent months

Red Rock Resources PLC (LON:RRR) has received a US$658,546 interim dividend payment from Jupiter Mines Ltd. (ASX:JMS).

Jupiter is now raking in cash from its stake in the Tshipi manganese mine in South Africa, and is in turn, passing that cash onto shareholders like Red Rock.

READ: Red Rock’s holding in Jupiter Mines is starting to pay off, in several different ways

Red Rock has a long-standing interest in Jupiter, and currently holds a 0.95% stake, as part of a wider portfolio of mining investments.

Red Rock also noted that the manganese price has strengthened in the second half of Jupiter's financial year, and the price for 37% ore currently stands at US$6.22 per dry metric ton unit FOB Port Elizabeth.

This bodes well for a second, full-year payment in due course.

 

 

 

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Price: £0.01

Market: AIM
Market Cap: £3.38 m
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